Caucasus Sustainable Energy Financing Facility, Georgia
Short description of the overall project
- Credit line facility from the EBRD to participating financial institutions in Georgia, Armenia and Azerbaijan for on-lending to energy efficiency and renewable energy investments in residential and industrial sectors.
- Overall, the facility’s investments in projects have contributed to saving more than 227,630 kWh of energy per year and more than 45,830 tonnes of CO2 emissions per year.
- Loans provided via 6 partner financial institutions: Bank of Georgia, Bank Republic Bassisbank, Credo, TBC Bank and VTB.
- Borrowers could select pre-approved technologies, such as insulation, boilers, solar PV, that meet the high energy efficiency standards from the online Technology Selector.
- Advisory services from experts were made available to borrowers and partner financial institutions and included energy assessments, training and marketing support. The advisory aims to support borrowers in selecting the best solutions and implementing their projects.
The advisory package and investment incentives were funded by the donors, the European Union (EU) and the Austrian Ministry of Finance (BMF).
Energy savings achieved / expected
|Final energy savings (kWh):||227,630 / year|
|CO2 emission reduction achieved /expected in kt Co2eq||45,830 / year|
|Financial instruments used / use of current financial mechanisms||
• Provision of credit lines;
• Incentive payments to sub-borrowers;
• Grant support: technical cooperation.